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  #1  
Old 07-10-2008, 10:22 PM
Paulwlton Paulwlton is offline
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Default Here we go

Wednesday 08 October 2008
COURT 73
Before MR JUSTICE ANDREW SMITH
Not before 16:30
For Judgment
2007-1186 Office of Fair Trading v Abbey National PLC

probably announce "handing down" on Friday or monday!
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  #2  
Old 10-10-2008, 11:21 AM
MoonHawk MoonHawk is offline
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Default

Not a great result.

http://news.bbc.co.uk/1/hi/business/7659861.stm

We now have to see if OFT will appeal the decision.

Best Wishes
MoonHawk
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  #3  
Old 10-10-2008, 11:50 AM
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Dragonlady Dragonlady is offline
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Default OFT Test Case

Taken from Credit Today Online

News

Judge delivers next verdict in OFT test case - 09/10/2008


The High Court has ruled in favour of banks in the latest round of the legal battle with the Office of Fair Trading (OFT) over overdraft charges.

The judge yesterday backed lendersí arguments that fees imposed over the past several years when customers went into the red or had a cheque bounce could not be classed as unlawful penalty charges.

The High Court had already decided, following a three-day hearing in July, that current terms and conditions could not be penalties but could be assessed whether they are fair or not under Unfair Terms in Consumer Contracts Regulations (UTCCRs).

Similarly the judge in yesterday's trial said historic unarranged overdraft charges can be assessed for fairness under the UTCCRs but could not be considered penalties.

The latest ruling means that most bank customers will not be able to contest under common law overdraft charges levied mostly between 2001 and 2007.

"This is a positive decision for the banks," said Angela Knight, chief executive of the British Bankersí Association.

"The question of penalties was one of the claims made by the OFT which triggered the initial court case. Now we have had this judgement we are keen to move on to the next stage as quickly as possible."

NatWest customers, however, may still have a case as the judge failed to reach a verdict on their terms and conditions.

"This is another staging post in a complex legal process," said an OFT spokesman. "We are progressing our investigation as quickly as possible and are in continuing discussion with the banks about our provisional views on the issue of fairness."

The next hearing will take place at the end of the month when the banks will appeal the summer decision, which allowed fairness regulations to be applied to overdraft charges.
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  #4  
Old 10-10-2008, 01:06 PM
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Hocuspocus Hocuspocus is offline
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Theres no way they will allow the consumer to win this fight in the present climate being given Billions, they would of requested to have protection from losing alot of it to consumers, this was probably part of the structure within thsi last weeks acts.

The courts aren't ours they are the governments and secondly the banks and the banks have shown who rules the country and its certainly not Gordon Brown.

They could of waited a little longer to make it less obviouse.
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Old 10-10-2008, 01:26 PM
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Can't see anything for consumers coming from this now, but i can see a lot of consumers walking away from banks. IF banks are going to pay back what they have borrowed from the tax payers then they need them on side to get the money in. new faith is needed in the banking system and this would have made a huge difference in that ...teh banks could have used this current problem to stand up and say " we are going to change our ways" but no they will carry on regardless.

Anyone watch points of view last night, the government has no restraint at all on the banks, the top dogs can still walk away with top dollar and bonuses can still carry on.

They placed it at the regulators feet to deal with and we all know what route that will take.

How can someone had over Billions of money and not use that prime time for bargaining. Wish i had a helpful uncle brown like that.
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  #6  
Old 10-10-2008, 01:28 PM
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The consumer will have te UTCCR to use and as it is retrospective, the banks will have a harder time of it.
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Old 10-10-2008, 02:38 PM
sparkie1723 sparkie1723 is offline
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Current terms and conditions are being alterd two three times a year what would be considered the Current terms and conditions....if you receive a new ste of terme and conditions along with a leter stating " These are your New Terms and conditions" that would mean your previous terms and conditions are no longer "current". slightly ambiguous IMO.
But then I'm a "Nit Picker" .....and again that is what the law isabout...nit picking

sparkie
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  #8  
Old 10-10-2008, 06:46 PM
shakespeare62 shakespeare62 is offline
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Question

Quote:
Originally Posted by Hocuspocus View Post
Theres no way they will allow the consumer to win this fight in the present climate being given Billions, they would of requested to have protection from losing alot of it to consumers, this was probably part of the structure within thsi last weeks acts.

The courts aren't ours they are the governments and secondly the banks and the banks have shown who rules the country and its certainly not Gordon Brown.

They could of waited a little longer to make it less obviouse.

___
/|\ ...
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  #9  
Old 10-10-2008, 06:50 PM
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lol does that confusse you ...or worry you
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I will not be on the internet after the end of January 2009, so will not be around as much as usuall.
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  #10  
Old 10-10-2008, 07:07 PM
shakespeare62 shakespeare62 is offline
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no ..not about you Hocus....it was speculation regarding the 'judgement' and various interests. It a symbol which may be relevant. I wonder ...
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